Sting Says Six Children Won't Inherit Much of His Reported $300 Million Fortune

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Singer/Songwriter, Instrumentalist, and Composer of "The Last Ship" Sting attends the "The Last Ship" Pre-Broadway news conference at Cadillac Palace Theatre on May 27, 2014 in Chicago, Illinois.

If you're one of Sting's six children, this news is likely going to sting.

The music legend, who is worth an estimated $300 million, says he won't be leaving his three sons and three daughters a big inheritance.

"I told them there won't be much money left because we are spending it. We have a lot of commitments. What comes in we spend, and there isn't much left," says the 62-year-old rocker, who supports a number of charities with Trudie Styler, his wife of 21 years.

"I certainly don't want to leave them trust funds that are albatrosses round their necks. They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate."

Sting tells The Daily Mail that his kids have always worked to pay their own way. The singer would be willing to intervene if any of them were in trouble, but thankfully, he said that situation has yet to arise.

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"They have this work ethic that makes them want to succeed on their own merit," says the "Every Little Thing She Does Is Magic" singer, who currently employs 100+ people. "People make assumptions, that they were born with a silver spoon in their mouth, but they have not been given a lot."

"With my children there is great wealth, success-a great shadow over them-so it's no picnic at all being my child," says Sting, who had a troublesome relationship with his own father. "I discuss that with them; it's tough for them."

Known for hits like "Every Breath You Take," "Don't Stand So Close to Me," "Roxanne" and "Fields of Gold," the former Police frontman was inducted into the Rock and Roll Hall of Fame in 2002. Over the years, Sting won a Golden Globe and an Emmy Award and earned several Academy Award nominations.

What's next for Sting at this phase in his life?

"I have a story still to tell and part of that is I am facing the end of my life," the singer-songwriter says. "I have lived more of my life than is to come: that is an interesting place for an artist--more interesting than writing about your first girlfriend. It is kind of serious. In our 60s, how do we face this imponderable idea that we are not going to exist any more? We make art. We tell stories. We have to face it, to tell it."

"I am certainly not ready for death," Sting says. "Do I fear it? Well, I fear sudden death. I want to die consciously. I want to see the process. I suppose I already do," he says. "My eyesight is not as good as it used to be, nor my hearing. I am still extremely fit but have to work hard. But we decay."

"I love what Christopher Hitchens said about death: 'You have been asked to leave the party and the problem is the party will carry on without you,'" Sting says, quoting the British-American author. "Very eloquent."